Re: Settlement with OC Safe? CITI

Posted by DJM (159.48.248.60) on July 16, 2004 at 14:30:33:

In Reply to: Re: Settlement with OC Safe? CITI posted by Taziblue on July 16, 2004 at 11:47:46:

I understand what I need in writing and that I get a 1099C. I don't understand what I can file with IRS to not pay taxes on forgiven amount. What assest v/s debt. House woth 100k owe 75, Car worth 20K , owe 16k, Only REAL money is in 401k Plan (350K does this count? ). Otherwise I have no other cash, stocks etc outside of 401K. Thanks!

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